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Most Expensive Strand Listing: Altman Bros in the House

It was only a matter of time before the "big name" Westside Brokers started to penetrate the local Beach Cities market. Sure we've seen the Teles and Compass signs as well as a few others from time to time but I'm talking about the HGTV guys, the "Million Dollar" or in this case $20M listing crowd. Yes, the Altman Brothers have their beach gear on! Joshua Altman has listed 108 The Strand for $19,995,000. I think they need to rename their TV show "Ten Million Dollar Listing".

But, truth be known, this isn't the first time that Altman has listed this property. It has even been listed with local agents. Here' some background.

Recent History of 108 The Strand

The current owners, 108 Ventura Group LLC, acquired the property in October of 2012 for $7,050,000. At that point it was on the market for 209 days and listed by a local broker. It was initially priced at $7,799,000. Here's how the exterior looked back then:

At the time it was 4026 Sq Ft and 4 bedrooms, 5.5 baths. It had been remodeled in 2007 after having previously been sold in 2004 for $4.5M.

Next we see it listed in February of 2016 as a 6500 Sq Ft 5 bedroom new construction property on the market for $19,985,000. Here's the new look:

It stayed on the market for 117 days until it was canceled in August of that year. It was listed by the agent who represented the previous buy. Now looking back at that time period there were no sales in Manhattan Beach anywhere close to that price range. In fact, it wasn't until 2017 that we even saw any sales over $10M at all in 90266.

So the obvious move by the owner is to list it with the guys from HGTV!

Now to be fair, a couple of data points here.

104 The Strand did sell for $18,400,000 after 455 days on the market. (How does that mess up your statistics Zillow?) And 1000 The Strand sold for land value of $21,000,000 (double lot). Other than that, there's nothing else (closed) even close in price.

Here's how the property os currently being marketed in the MLS:

"An architectural tour-de-force, Setting the standard for modern beachside elegance. Located on the famed Strand, this bold & innovative Louie Tomaro designed trophy property features sleek details perfectly complemented by impeccable finishes and high quality craftsmanship. Highlighting true indoor and outdoor living, this 5BD & 8BA compound, set over 6,500 SQFT of glass and steel, is truly in a league of its own. Dramatic 3 level floating glass staircase intertwines the lines of custom pocketing Fleetwood doors that command the entire beach-side of the home bringing the ocean into every room. Entertain and enjoy with unparalleled amenities. Two kitchens (including a Strand level party kitchen) 3 outdoor fireplaces, high end screening room, Zen inspired yoga studio and professional gym. Equipped with full service elevator and 5 car vaulted lift garage."

And to be fair if we take the sum total of days on market, we are still way below the 455 the neighbor house required to close escrow.

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